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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 21, 1999
GEORGIA BANK FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Georgia 0-23980 58-2005097
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
3530 Wheeler Road
Augusta, Georgia 30909
(Address of principal executive offices, including zip code)
(706) 738-6990
(Registrant's telephone number, including area code)
N/A
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(Former name or former address if changed since last report)
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Item 5. Other Events
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On July 21, 1999, the board of Directors of Georgia Bank Financial
Corporation (the "Company") authorized a 15% stock dividend for each share of
the Company's outstanding Common Stock. The dividend will be paid on August 28,
1999 to shareholders of record on August 6, 1999 (the "Record Date") in the form
of shares of Common Stock at the rate of .15 share of Common Stock for each
share of Common Stock outstanding on the Record Date.
Item 7. Financial Statements, Pro Forma financial Information and Exhibits
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(a) Financial Statements of Business Acquired. Not applicable.
(b) Pro Forma Financial Information. Not Applicable.
(c) Exhibits.
99.1. Press release dated July 22, 1999............... Page 4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GEORGIA BANK FINANCIAL CORPORATION
(Registrant)
By: /s/ Ronald L. Thigpen
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Ronald L. Thigpen
Executive Vice President, Chief
Operating Officer (Duly Authorized
Officer of Registrant and Principal
Financial Officer)
Date: July 28, 1999
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EXHIBIT INDEX
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Press release dated July 22, 1999...................................... 4
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JULY 22, 1999
FOR IMMEDIATE RELEASE
Georgia Bank Financial Corporation, the holding company for Georgia Bank &
Trust Company of Augusta, today reported record net income for the second
quarter of $878,000 or 48 cents per share, compared with $709,000 or 39 cents
per share for the same period in 1998. This represents an increase in net
income of 23.8 percent and in earnings per share of 23.1 percent.
As of June 30, 1999, Georgia Bank Financial Corporation had total assets of
$323.5 million and total deposits of $265.0 million. This reflects an increase
of 16.9 percent in assets and 13.1 percent in deposits over June 30, 1998.
Total assets and deposits were $295.4 million and $251.5 million at December 31,
1998 and $276.7 million and $234.3 million, respectively, at June 30, 1998.
"The Company's financial performance continues to increase reflecting our
growth in market share. Loan growth of $6.8 million during the quarter provided
increased net interest income, which along with increases in non-interest income
contributed to the higher level of earnings," stated Ronald L. Thigpen,
Executive Vice President.
Mr. Robert W. Pollard, Jr., Chairman of the Board also announced today
recent action by the Board of Directors declaring a 15% stock dividend. The
dividend is payable August 28, 1999 to shareholders of record as of August 6,
1999.
Chairman Pollard stated "the Board of Directors wishes to express its
appreciation with this 15% stock dividend to the shareholders for their
confidence and support as the Company celebrates the tenth anniversary of its
subsidiary, Georgia Bank & Trust Company".
Georgia Bank & Trust Company began commercial banking operations on August
28, 1989 and currently operates seven offices in the Metro Augusta market and is
the only locally-owned and operated bank in Richmond and Columbia County.
For further information, please contact R. Daniel Blanton, President and
CEO or Ronald L. Thigpen, Executive Vice President and Chief Operating Officer
at 706-738-6990.
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